FJ Capital Management LLC Invests $4.38 Million in TriCo Bancshares $TCBK

FJ Capital Management LLC purchased a new position in TriCo Bancshares (NASDAQ:TCBKFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 92,492 shares of the financial services provider’s stock, valued at approximately $4,381,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCBK. AQR Capital Management LLC raised its holdings in shares of TriCo Bancshares by 28.9% in the first quarter. AQR Capital Management LLC now owns 32,711 shares of the financial services provider’s stock worth $1,307,000 after buying an additional 7,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of TriCo Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,011 shares of the financial services provider’s stock worth $760,000 after buying an additional 820 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of TriCo Bancshares by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 643,656 shares of the financial services provider’s stock worth $25,727,000 after buying an additional 27,193 shares during the period. Empowered Funds LLC raised its holdings in shares of TriCo Bancshares by 8.4% in the first quarter. Empowered Funds LLC now owns 51,204 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 3,951 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of TriCo Bancshares by 280.1% in the first quarter. Jane Street Group LLC now owns 49,452 shares of the financial services provider’s stock worth $1,977,000 after buying an additional 36,443 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TCBK has been the topic of several recent analyst reports. Piper Sandler increased their price target on TriCo Bancshares from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Zacks Research downgraded TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Weiss Ratings upgraded TriCo Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Moderate Buy” and an average price target of $54.60.

Get Our Latest Stock Report on TriCo Bancshares

TriCo Bancshares Trading Up 1.2%

TCBK opened at $52.64 on Friday. The stock’s fifty day moving average is $50.24 and its two-hundred day moving average is $49.31. The company has a market capitalization of $1.68 billion, a P/E ratio of 13.33 and a beta of 0.60. TriCo Bancshares has a 52 week low of $36.32 and a 52 week high of $53.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.04.

TriCo Bancshares (NASDAQ:TCBKGet Free Report) last released its quarterly earnings data on Monday, March 2nd. The financial services provider reported $1.03 EPS for the quarter. The company had revenue of $111.21 million for the quarter. TriCo Bancshares had a return on equity of 9.87% and a net margin of 23.71%. Analysts forecast that TriCo Bancshares will post 4.22 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, June 5th. TriCo Bancshares’s dividend payout ratio (DPR) is presently 36.46%.

TriCo Bancshares Company Profile

(Free Report)

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.

See Also

Want to see what other hedge funds are holding TCBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriCo Bancshares (NASDAQ:TCBKFree Report).

Institutional Ownership by Quarter for TriCo Bancshares (NASDAQ:TCBK)

Receive News & Ratings for TriCo Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriCo Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.